Why Shares of Core Labs, SM Energy, and Centennial Resource Development Were Big Movers Today
Shares of energy services company Core Laboratories (NYSE: CLB) rose as much as 7.5% in the first 90 minutes of trading on Wednesday. Relatively small onshore U.S. exploration and production companies SM Energy (NYSE: SM) and Centennial Resource Development (NASDAQ: CDEV), meanwhile, were up 12% and 16.5%, respectively, at their peaks.
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There was no particular news out of any of these energy sector names, but there was a notable update out of the International Energy Administration (IEA). And it followed a similarly upbeat report out of OPEC the day before. Investors seemed to like what they read.
Source Fool.com
